Stryker Co. (NYSE:SYK) Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co reduced its holdings in Stryker Co. (NYSE:SYK) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,255 shares of the medical technology company’s stock after selling 322 shares during the quarter. Perkins Coie Trust Co’s holdings in Stryker were worth $4,052,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SYK. Dunhill Financial LLC increased its stake in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR grew its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth approximately $42,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE SYK opened at $383.91 on Friday. The business has a 50 day moving average price of $375.51 and a two-hundred day moving average price of $358.81. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The firm has a market cap of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SYK. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $405.80.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.